Raghuram Rajan revealed that the memento consisted of a rupee symbol with 'hamari zimmedari' or our responsibility written on it.
Speaking about his new book, former Reserve Bank of India (RBI) Governor Raghuram Rajan on Tuesday said that he had given a small memento to his successor Urjit Patel at the time of demitting office. He revealed that the memento consisted of a rupee symbol with ‘hamari zimmedari’ or our responsibility written on it. Rajan said that he wanted people to know about his work during his tenure at the RBI. The former RBI Governor added that he believes that a number of reforms happened during his tenure as the RBI Governor. Rajan, now an academician, said that his book comes after a year of silence. Making a number of revelations, Rajan said that there was no interference in the working of RBI, adding, that he shared cordial relationship during the tenure of both UPA and NDA governments.The book titled “I Do What I Do: On Reform, Rhetoric & Resolve” is not a tell all, Rajan says. He adds that he wanted to give people a sense what it feels like being the RBI governor.
Earlier, Press Trust of India reported that the book is a collection of Rajan’s essays and speeches during his stint as RBI head. The report says that Rajan has explained economic concepts and talks of issues like tolerance and connection between political freedom and prosperity in his new book. Speaking on the book, publisher HarperCollins India was quoted as saying by PTI, “Rajan outlined a vision that went beyond the immediate crisis to focus on long-term growth and stability, thus restoring investor confidence. Boldness and farsightedness would be characteristic of the decisions he took in the ensuing three years.”
It added: “Whether on dosanomics or on debt relief, Rajan explains economic concepts in a readily accessible way. Equally, he addresses key issues that are not in any banking manual but essential to growth: the need for tolerance and respect to assure India’s economic progress, for instance, or the connection between political freedom and prosperity.”